SOURCE: Mortgage News Feed
Last October, the Consumer Financial Protection Bureau’s (CFPB) new integrated mortgage disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act (commonly known as the TILA-RESPA Integrated Disclosure rule or TRID) went into effect. Among other things, TRID requires:
A lender deliver or place the loan estimate in the mail within three business days after receiving the loan application.
The closing disclosure be provided to the consumer at least three days prior to consummation of the transaction. Read Full Article Here >>
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